🚀 Bitcoin Eyes $118K — The Key Level That Could Ignite the Next Bull Run

In the last week, the price of Bitcoin has been going up again, going again over the important $115,000 threshold. On Friday, August 8, the top cryptocurrency momentarily went above the $117,000 level. This was because to recent positive news in the United States.

President Donald Trump of the United States issued an executive order on Thursday, August 7, that lets people invest in cryptocurrencies via their 401(k) plans. Because of this good news, the price of Bitcoin went up and appears like it will keep going up until it reaches its all-time high.

Titan of Crypto, a well-known crypto analyst, recently posted on the social networking site X about an unusual prediction for the price of Bitcoin in the next several days. The way things are right now, the main cryptocurrency may be on its way back to its all-time high price of almost $122,800.

But the price of Bitcoin seems like it's getting close to a key level around the Kijun-sen from the Ichimoku Cloud indicator. The Kijun-sen, or Base Line, is frequently where the market is balanced and may be a crucial support and resistance level.

The market leader has surged back above the Tenkan-sen (red line), which is a sign of an early change in momentum, as indicated in the chart setup above. The Kijun-sen, which is approximately $118,000, seems to be the only thing standing in the way of Bitcoin reaching its all-time high price of roughly $123,000.

But if the price stays above the "blue line" for a long time, it might mean that the bull run is back on for BTC. The Chikou Span , which is a lagging indicator, is still in the positive zone, which supports the idea that the market leader is on an upward trend.

#BTC #ETH4500Next? #CryptoIn401k #USFedNewChair #USFedBTCReserve $BTC $ETH $XRP